10 Smart Tactics to Win your DREAM Home Without Lowering Your Price & Save Big!
Buying a home in Austin’s competitive market can be challenging, especially when multiple offers are on the table. Many buyers think the only way to win is by outbidding everyone, but that’s not always the case! With the right strategies, you can secure your dream home without overpaying.
At KAT Realty, we offer flat-fee services that helps buyers and sellers save thousands in commission fees. Whether you’re making an offer on a home or preparing to sell, our cost-effective real estate solutions put more money back in your pocket.
Now, let’s dive into 10 powerful tactics that will make your offer stand out without simply increasing your price!
1. Increase Your Earnest Money Deposit
Increase Your Earnest Money Deposit
Earnest money is a good faith deposit showing sellers you’re serious. While most buyers offer 1% of the purchase price, you can make your offer stronger by increasing it to 2-5%. This reassures sellers that you’re committed and can help tip the scales in your favor.
Bonus: This money eventually goes toward your down payment or closing costs, so it’s not an extra expense!
2. Shorten the Option Period
Shorten the Option Period
In Texas, buyers typically get a 7-10 day option period to conduct inspections and back out if needed. By reducing this to 3-5 days, you show sellers that you’re decisive and ready to move forward, giving them confidence in your offer.
Pro tip: Have your inspection scheduled in advance to make this work!
3. Be Flexible With the Closing Date
Be Flexible With the Closing Date
Some sellers need to close quickly, while others may want extra time to move. By offering a flexible closing timeline that aligns with their needs, you make their transition easier—giving your offer an advantage.
Pro tip: Ask your agent to check what the seller prefers before submitting your offer!
4. Offer a Seller Leaseback Option
Offer a Seller Leaseback Option
If the seller needs time to relocate after closing, offering a short-term leaseback (letting them stay for a few weeks) can be a game-changer. Some buyers even offer a free leaseback period as an incentive!
Pro tip: Make sure your lender allows leasebacks before including this in your offer.
5. Cover Some of the Seller’s Closing Costs
Cover Some of the Seller’s Closing Costs
Instead of increasing your offer price, consider paying a portion of the seller’s closing costs (e.g., title fees, HOA transfer fees). This effectively puts more money in their pocket while keeping your purchase price the same.
Pro tip: This is often cheaper than simply offering more money because it reduces the seller’s out-of-pocket expenses!
6. Reduce or Waive Certain Contingencies
Reduce or Waive Certain Contingencies
Sellers prefer low-risk buyers, so limiting contingencies can make your offer stronger. Some options include:
Appraisal Gap Coverage – Agreeing to pay the difference if the home appraises for less than the offer price.
Inspection Waivers – Instead of demanding every little repair, focus on major issues only.
Loan Approval in Advance – Getting fully underwritten (not just pre-approved) shows financial strength.
Pro tip: Only waive contingencies if you’re comfortable with the risk!
7. Offer a Non-Refundable Option Fee
Offer a Non-Refundable Option Fee
Most buyers pay a small, refundable option fee (e.g., $100-$300) during the option period. However, offering a higher, non-refundable option fee ($500-$1,000) shows sellers that you’re serious and won’t back out easily.
Pro tip: Since this amount is credited toward your closing costs, it’s not an added expense!
8. Write a Personal Letter to the Seller
Write a Personal Letter to the Seller
A heartfelt buyer’s letter can make a big difference—especially when sellers have a strong emotional attachment to their home.
Tell them:
Why you love the home
How you see yourself living there
A little about your family (without violating fair housing laws)
This human touch can sometimes beat out even higher offers!
9. Use a Strong Local Lender
Use a Strong Local Lender
Sellers prefer buyers with reliable financing, and using a local lender instead of a big national bank can be a major advantage. Why?
Local lenders:
Have faster processing times
Are more responsive to seller agents
Have a better reputation in the local market
Pro tip: Have your lender call the listing agent to confirm your loan is solid—it can make a huge difference!
10. Use an Escalation Clause
Use an Escalation Clause
If you’re competing against multiple offers, an escalation clause can help you win without overpaying unnecessarily.
Example:
“I’ll pay $2,000 more than the highest offer, but not more than $500,000.”
This ensures you stay competitive while capping your max offer!
Final Thoughts: Secure Your Dream Home Without Overpaying!
In a hot market, simply offering the highest price isn’t always the best strategy. By using these 10 proven tactics, you can craft an offer that sellers can’t refuse—without blowing your budget!
At KAT Realty, we help buyers and sellers save thousands with our flat-fee services. Why pay 6% commission when you can sell for a fraction of the cost and use those savings toward your next home?
Ready to make a winning offer or list your home for less? Contact us today!